Fold it diagonally. (In fig. 1 the original centre of the paper is bottom, right.)
Fold diagonally again, as in fig. 2.
Cut along the curved lines. Remove the white area - leaving the 'shaded' portion, as in fig. 3.
Unfold this 'shaded' portion and you should have an eight-spoked wheel which you can decorate
You could hang it up or make it into a flag. Try making several and threading them on a string. You could give them away as presents.
fig. 1
fig. 2
fig.3
